12 hours ago
Almarai to acquire Pure Beverages Industry for $280mn
Saudi Arabia's Almarai Company is acquiring 100 per cent of the shares of Pure Beverages Industry for SAR1.04 billion (US$280 million).
Pure Beverages owns popular brands like Ival and Oska and is a leading producer of high-quality bottled drinking water in Saudi Arabia. The company operates state-of-the-art facilities that use innovative production technologies.
Almarai, with over 50 years of experience in the region (established 1977), is one of the largest food production and distribution companies in the Middle East, offering fresh dairy, yogurt and cheese, as well as juices, baked goods, poultry, and infant nutrition products.
In a filing with Tadawul, Almarai said: 'This strategic acquisition aligns with Almarai's growth strategy to expand its beverage portfolio and enhance its consumer offerings. Almarai is confident that this acquisition will create value for its shareholders.'
The acquisition will be financed through the company's internal cash flows and completion is subject to mandatory regulatory approvals.
Arab News said that according to the General Authority for Statistics, bottled water was the primary source of drinking water used by households in Saudi Arabia in 2023, with a reliance rate of 57.24 per cent. This was followed by public network water at 23.56 per cent and tanker water at 18.60 per cent.
